Annexon (NASDAQ:ANNX) Trading Down 7.5%

Shares of Annexon, Inc. (NASDAQ:ANNXGet Free Report) dropped 7.5% during mid-day trading on Friday . The company traded as low as $5.44 and last traded at $5.45. Approximately 1,658,045 shares traded hands during trading, a decline of 24% from the average daily volume of 2,167,955 shares. The stock had previously closed at $5.89.

Analysts Set New Price Targets

A number of research firms recently weighed in on ANNX. Wells Fargo & Company lowered their price target on Annexon from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, May 15th. Bank of America boosted their price objective on shares of Annexon from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Annexon from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $16.00 price objective on shares of Annexon in a research report on Tuesday, June 4th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Annexon presently has a consensus rating of “Buy” and a consensus price target of $15.33.

View Our Latest Stock Analysis on ANNX

Annexon Trading Down 2.5 %

The company’s 50 day simple moving average is $5.15 and its 200-day simple moving average is $4.75. The company has a market capitalization of $530.45 million, a price-to-earnings ratio of -3.90 and a beta of 1.30.

Annexon (NASDAQ:ANNXGet Free Report) last released its earnings results on Monday, May 13th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.11. Sell-side analysts anticipate that Annexon, Inc. will post -0.99 EPS for the current year.

Hedge Funds Weigh In On Annexon

Institutional investors have recently added to or reduced their stakes in the business. BVF Inc. IL purchased a new stake in Annexon in the 4th quarter valued at about $31,780,000. Bain Capital Life Sciences Investors LLC grew its holdings in Annexon by 41.4% in the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 8,061,719 shares of the company’s stock valued at $36,600,000 after purchasing an additional 2,359,793 shares during the period. Bellevue Group AG purchased a new position in Annexon during the first quarter worth approximately $15,647,000. Vanguard Group Inc. lifted its position in Annexon by 96.4% during the first quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock valued at $26,871,000 after buying an additional 1,839,329 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Annexon by 10,482.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,323,704 shares of the company’s stock worth $9,492,000 after purchasing an additional 1,311,195 shares during the period.

About Annexon

(Get Free Report)

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines for treating inflammatory-related diseases. Its lead candidate is ANX005, an investigational full-length monoclonal antibody, which is in Phase 3 clinical trial for the treatment of patients with guillain-barré syndrome; completed Phase II clinical trial for treating Huntington's disease; and in Phase II clinical trial for the treatment of amyotrophic lateral sclerosis.

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